Friday, July 1, 2011

A $100 Million ATM Receipt

by Mike Krumboltz
Thursday, June 30, 2011
Scrooge McDuck lives. An ATM receipt showing a balance of nearly $100 million dollars was discovered at an East Hampton Village bank.
A customer found the receipt hanging out of the ATM's slot. The customer who found the receipt showed it to financial The receipt, dated June 18, doesn't list the account holder's name but does indicate that the person has $99,864,731.94 in a personal savings account (that's after a $400 withdrawal and a $2.75 service charge). The East Hamptons is a well known playground for the very wealthy.
Is the receipt a mistake of some kind? Perhaps. Anyone with that amount of cash would know that keeping $100 million in a savings account isn't the wisest investment move. Savings accounts earn paltry interest rates and are only guaranteed by the federal government for amounts up to $250,000.
A buzzy article from The New York Post speculates that the holder of the account may be billionaire mogul David Tepper (Forbes lists him as the 208th richest person in the world). When contacted by The New York Post, Tepper denied ownership of the receipt and pointed out that he "would never do something as irresponsible as leaving $100 million in a savings account."
Maybe it really was Scrooge McDuck?

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